Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

What are the precautions needed to be taken when bargaining for no annual fee credit cards?

Money is charged to customers by credit card companies, irrespective of the usage of the card on a yearly basis. Most credit card companies charge fixed annual fees to its card holders. This fee remains variable and is different for each company. The annual fee is charged irrespective of other expenses, these includes, interest rate, transaction cost etc.

A nationwide survey has shown that a major part of the population, regard the absence of an annual credit card fee an important criteria, in selecting a card company.

No annual fee credit cards and the precautions to be taken

With an increase in competition, many credit card companies are attracting customers with credit card offers of no annual fees. There are however, certain points that customers should be aware of, before choosing.

While the credit companies promote no annual fee charges, they charge higher APR rates to make profit. When bargaining for no annual fee charges, one must also enquire about the other charges.

If you have a good credit and is an old customer of a bank then it becomes easy to bargain in getting a no annual fee charge. One can also avail interesting interest rates.

It is better to opt for credit cards that charge annual fees, with lower interest rates. The best way of comparing the annual fee charges of the different cards is to visit the credit card website. A comparative account of the annual fee charges along with the other features is also available. Reviews of a particular credit card company can also be visited.

Read the fine print on the card statement. In case of any confusion regarding the annual charges it is best to contact the bank directly and get clarified.

A no annual fees credit card, can save a lot of. Sometimes, customers need to keep credit cards with them, as directed by their official guidelines. Annual fees charged on an unused credit card, becomes a burden for the customer. From the bankers point of view, a credit card with no annual fee charges, attract more customers, increasing the bank’s productivity and profitability.

Enter your e-mail address to subscribe to the latest CreditLand news, articles, and expert advice for FREE.
CreditLand will never share your e-mail address with any third parties.
You may unsubscribe at any moment by simply clicking the Unsubscribe link in any of CreditLand's newsletters.

* The Credit-Land.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers.
Credit-Land.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card.
Please refer to the application if you would like more information on each credit card.
When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website.
All logos on the Credit-Land.com website are property of their respective owners.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser.
Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser.
It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site.
Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists.
Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Please note that Credit-Land.com has financial relationships with some of the merchants mentioned here.
Credit-Land.com may be compensated if consumers choose to utilize the links located throught the content on this site and generate sales for the said merchant.